T. and G. MUTUAL LIFE SOCIETY ANNUAL MEETING..

NZ Truth, Issue 1202, 13 December 1928, Page 18

T. and G. MUTUAL LIFE SOCIETY ANNUAL MEETING..

SUBSTANTIAL PROGRESS MELBOURNE, 7th December. At the Fifty-second Annual Meeting, of the T. & G. Mutual Life Society! held to-day (Friday, 7th December), the Chairman, Mr. J. T. Thompson, said that" he felt sure that every,policyholder would be pleased with, the'results." '• New Business "consisted "■ of 148,630 Policies, assuring £11-498,725 the .largest.volume ever written by the Societs' m one year. The Total Income had increased to £3,312,151, while the Payments'" ■-to policy-holders exceeded £1.000,000. The addition to the As: surance.. Funds was £1,449,895," while the Assets .' now amounted \i tv £13,417,203 of :which£ 9,577,923 is mr .vested m Government arid Municipal Securities. The Rate of Interest on the Mean Funds had increased to £5/14/0 per cent. The Actuary's Report showed a surplus of £463,930, which would be distributed m. the usual form of Reversionary Bonus additions to the Sums Assured and also other benefits to policyholders. •' Speaking generally, the Chairman said, that the results were right, up to expectations, there had been a record new business and a record increase m funds and there was exhibited a 'Statement of assets showing an absolutely . safe and satisfactory financial position. In conclusion, the Chairman said that by efficient management, by the enthusiasm and loyalty of the Staff and the considerate attention to the needs of its policyholders, the Society was bound to progress and enjoy the same popularity as it does to-day.*'"'